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Bankrate.com takes seriously its responsibility to provide
accurate information, and will correct or clarify articles produced by the editorial department if we have made an error or published misleading information.

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Bankrate's archives contain more than 20,000 stories
published online since 1997. It is our policy that any piece containing timely information must clearly identify the date when that page was posted or updated. Bankrate updates stories as time permits and as news events warrant, but such updates will
not be considered corrections.

Jan. 23, 2015 -- In a Jan. 13, 2015, blog "Auto insurance from Google?" it was implied that Mark McElroy, executive vice president of TransUnion's insurance business, commented on the prospect that Google would be selling auto insurance through a comparison shopping site. That is not correct. McElroy's comments were in regard to online shopping for auto insurance in general. The blog has been corrected. We regret the error.

Dec. 15, 2014 -- In "Military pension reforms considered," we incorrectly stated that members of the U.S. military cannot participate in the Thrift Savings Plan, a defined contribution retirement savings plan for federal employees. Members of the military can participate, but the government offers no matching contributions.

Oct. 30, 2014 -- In "401(k) required minimum distribution rules," the section on "How to determine your RMD for this year" stated that you can aggregate the balances of all your qualified tax-deferred plans when figuring your RMD. In fact, you have to take RMDs from each of your workplace accounts separately, though you can aggregate the balances in all your IRAs and withdraw the total RMD from just one of them.

Oct. 21, 2014 -- In "How to make money on the side," published Oct. 16, 2014, we incorrectly stated that a senior manager at eBay spent $2.50 a night on his sideline business. In fact, he spent two and a half hours a night on it.

Sept. 2, 2014 -- In "Using 72(t) rules for penalty-free income," we incorrectly stated that you can take penalty-free withdrawals from a 401(k) or 403(b) plan if, after separating from service at age 50, you wait until age 55 to take distributions. However, IRS Publication 575 states that you must have separated from service in or after the year in which you reach age 55 to make penalty-free withdrawals.

Aug. 1, 2014 -- In "Unclaimed funds: Where are Mom's IRA CDs?," we incorrectly stated that MissingMoney.com is the sponsored website of the National Association of Unclaimed Property Administrators. In fact, it is NAUPA's sponsored search engine. Unclaimed.org is NAUPA's sponsored website.

July 18, 2014 -- In "6 Klutzy Steps to Debt Mismanagement," published July 17, 2014, we incorrectly stated that the National Foundation for Credit Counseling is in Silver Spring, Maryland. It is based in Washington, D.C.

June 23, 2014 -- In "Cashing in savings bonds to fund 529 plan" published June 1, 2009, we incorrectly stated that the savings bond education tax exclusion could not be used in redeeming qualified savings bonds to fund a Section 529 College Savings Plan. In fact, certain tax filers may use the exclusion to fund contributions to a 529 plan, where their savings bonds qualify.

May 12, 2014 -- In "Use a smartphone money transfer app?" published May 8, 2014, we incorrectly stated that the peer-to-peer money transfer service Popmoney provides money transfer services to the major banks Wells Fargo, Chase and Bank of America. In fact, Wells Fargo and Bank of America use a service called clearXchange, and Chase has its own proprietary money transfer service.

Feb. 14, 2014 -- In "What's all the fuss about myRA accounts," published February 12, 2014, we incorrectly stated that employers are not required to offer myRAs unless they do not provide any employer-sponsored savings plan. In fact, employers are not required to offer myRAs at all. In addition, we incorrectly stated that small businesses will receive tax breaks to help defray the administrative costs associated with the program. A separate proposal by President Barack Obama would require that employers offer a payroll deduction IRA if they do not already provide an employer-sponsored savings plan. The payroll deduction IRA and the myRA are two different types of plans. Tax breaks to small businesses would apply to the “auto-IRA,” not the myRA.

Sept. 24, 2013 -- In "Cybersecurity stocks in an insecure worlds," published Sept. 11, 2013, we incorrectly stated that the theft of intellectual property cost U.S. consumers $110 billion in the year ending in September 2012. In fact, it is the global cost of cybercrime for consumers that reached $110 billion, and the report from Symantec was released in September 2012, though the research was completed on July 30 of that year.

July 22, 2013 -- In "Golden retirement benefits for Congress," published July 22, 2013, we incorrectly stated that members of Congress serve four-year terms. In fact, U.S. representatives each serve a two-year term, and U.S. senators each serve a six-year term.

May 10, 2013 -- In "Best U.S. cities for an airport layover," published March 27, 2013, we incorrectly included Vancouver International Airport among the best U.S. airports for a layover. It is in Canada.

April 25, 2013 -- In "Basics of IRAs," updated Jan. 11, 2012, we incorrectly stated that contributions to a traditional IRA are not deductible if you are already covered by a workplace retirement plan. In fact, some or all of the contributions may be tax deductible, depending on your earnings. Also, we incorrectly stated that you can only take distributions from an IRA at age 59 ½ as long as the account has been open at least five years. In fact, that rule only applies to Roth IRAs, not traditional IRAs.

April 24, 2013 -- In "Compare credit union accounts," published March 18, 2013, we incorrectly reported checking account yields of 5 percent for America First Federal Credit Union, American Airlines Federal Credit Union, BECU and Delta Community Credit Union. They are 0.05 percent.

Oct. 26, 2012 -- In "Going abroad: Who offers EMV cards?," published April 9, 2012, we inaccurately reported that credit cards issued by U.S. Bank require a PIN. These cards require a signature, not a PIN.

August 29, 2012 -- In the story 6 cheap places to retire abroad that published August 14, 2012, the island Guam was identified as a country and an American territory rather than a U.S. territory.

August 16, 2012 -- In the story Short selling: A strategy fraught with risk that published August 15, 2012, an explanation about buying put options was incorrect. A put gives you the right, but not the obligation, to sell the stock or index at a preset price.

July 31, 2012 -- In the story Earthquake insurance: Sturdier home coverage that published July 26, 2012, the average annual premium for earthquake insurance through the California Earthquake Authority was incorrect. The correct average rate is about $2 per $1,000 of coverage.

July 18, 2012 -- In the story 7 legit work-at-home jobs for 20-somethings that published May 29, 2012, the mystery shopper site referenced did not have up-to-date, valid information. This has been updated with new information.

June 19, 2012 -- In the story 6 overseas vacation spots for a song that published June 15, 2012, the name of a tour operator was incorrect. The correct name is Friendly Planet Travel.

June 7, 2012 -- Due to a processing error May 31, 2012's "Interest Rate Roundup" showed an incorrect rate for the 30-year jumbo mortgage. The 30-year jumbo mortgage rate for that date has been changed from 4.54 percent to 4.5 percent to correct the error.

March 3, 2012 -- The article "International investments: Bite the bullet?" published Feb. 27, 2012, originally stated that new retirees should allocate 12.5 percent to 25 percent of the stock portion of their portfolios to international investments. The story has been amended to read: For new retirees, the stock portion may be 50 percent, so the international exposure may be 10 percent to 15 percent of the total portfolio.

Jan. 17, 2012 -- The article "Top 1 percent: How much do they earn," published October 24, 2011, incorrectly stated that roughly 44 percent of New York City residents made the top 1 percent in 2007 in a bulleted highlight at the top of the story. In fact, the share of income among the top 1 percent of NYC households rose from 12 percent in 1980 to 44 percent in 2007, as was correctly stated in the article itself.

Oct. 4, 2011 -- The article "Higher banking fees on the horizon," published Aug. 8, 2011, incorrectly stated that swipe fee caps imposed under the Durbin Amendment don't apply to financial institutions that have less than $10 million in assets. The asset level for that exemption is $10 billion.

Sept. 13, 2011 -- The article "3 ways to save money on medical costs," posted Sept. 12, 2011, incorrectly stated that an average U.S. family spends five times more on medical costs than they did five years ago, according to Simplee.com. In fact, Simplee's data show the average U.S. family has experienced a 50 percent increase in medical costs over the last five years.

July 29, 2011 -- The article "5 major must-haves for a fab first home," posted July 26, 2011, incorrectly stated that first-time homebuyers should seek an appraiser to check that a prospective home has been properly maintained. In fact, they should seek the services of an inspector.

June 30, 2011 -- The article "Group coupon craze comes to real estate," posted June 29, 2011, incorrectly said that real estate agents are not always allowed to give commission discounts. In fact, some states do not allow commission rebates.

June 6, 2011 -- The article "Pros and cons of prepaid tuition plans," posted June 3, 2011, incorrectly stated that Tennessee's prepaid college plan has recently shut down. In fact, it has simply suspended enrollment, but remains open to current enrollees.

May 31, 2011 -- In the story "7 money moves for living abroad," posted May 27, 2011, Steven Elliott, tax director of Schwartz & Co., was incorrectly identified as Steven Schwartz.

April 22, 2011 -- The Real Estate Adviser column "Heed taxes when passing home to offspring," published April 17, 2011, incorrectly referred to Medicare instead of Medicaid. The column said the homeowners could incur gift taxes for giving the home to the children, when the lifetime gift-tax exemption makes that unlikely for a couple of modest means.

April 14, 2011 -- The story "5 little-known facts about Social Security," originally published Sept. 10, 2010, stated that eligibility for Social Security required 40 quarters of employment with a minimum income of $1,000 per quarter. The minimum income required for 2010 and 2011 is $1,120 per quarter.

Jan. 4, 2011 -- The story, "10 years that shook America's finances," incorrectly stated the rise in the Dow Jones industrial average from the low set in March 2009 and the intraday high Dec. 15, 2010. The Dow Jones rose just under 76 percent during the period.

Dec. 6, 2010 -- In the Dr. Don column Dec. 6, "Best place to park short-term savings," there was an error. His statement about bonds and price risk should read: "there is not a lot of room for interest rates to go lower."

Dec. 6, 2010 -- The story, "Reverse
mortgage gets affordable," incorrectly estimated the cost of
an annual mortgage insurance premium. It was based on the hypothetical
value of the home rather than an outstanding loan balance.While the upfront
MIP is based on the value of the house, the annual MIP is based on the
loan balance of a reverse mortgage.

Oct. 19, 2010 -- The story, "6
questions before you refi," contained an error about the percentage
of equity a homeowner needs to avoid being required to purchase private
mortgage insurance. The correct percentage of equity is 20 percent or
more.

Aug. 27, 2010 -- The Retirement blog, "Social Security cutting do-overs," incorrectly stated that the Office of Management and Budget and the Social Security Administration proposed a change to the policy that allows recipients to change their minds about collecting Social Security. The proposal was sent by the Social Security Administration to the Office of Management and Budget. The blog also stated the proposed rule change would go into effect Oct. 1. No date has been set.

Aug. 17, 2010 -- The article, Changes to college loans and financial aid posted Aug. 16, 2010, identified the Project on Student Debt as a nonprofit student debt relief agency. In fact, it is actually a nonprofit research and policy organization.

Aug. 5, 2010 -- The story "7 crucial facts about FHA loans" incorrectly stated the amount of money available to borrowers to finance repairs through a so-called "streamlined" 203(k). The correct amount is $35,000.

June 18, 2010 -- In the Bankrate article "Community vs. big banks," there were three misleading or incorrect statements. Read the correct version here.

May 27, 2010 -- The May 23 Real Estate Adviser column, "Home builder must pay for contract typo," incorrectly reported the average cost of asphalt-shingle and clay-tile roofing materials. The correct average cost for asphalt-shingle roofing is $50 to $150 per square, while clay-tile roofing averages $300 to $500 per square.

Feb. 25, 2010 -- The Dec. 30, 2009, story "7 steps to a 2010 Roth IRA conversion" incorrectly stated that converting a 401(k) or 403(b) from a former employer into a Roth IRA is a two-step process. In fact, the conversion can be made directly into a Roth IRA in one step, says Melissa Labant, a technical manager with the American Institute of Certified Public Accountants in Washington, D.C.

Feb. 3, 2010 -- The Stratus Rewards Visa is no longer issued by U.S. Bank.

Jan. 29, 2010 -- In "Credit do's and don'ts before a refinance," it was implied that collection agencies can remove listings they have placed on a consumer's credit report. In fact, this practice violates the Fair Credit Reporting Act.

Nov. 6, 2009 -- In an Oct. 28, 2009 Dr. Don column, it was incorrectly stated that a woman who planned to take ownership of a home currently owned by her father could qualify for the federal first-time homebuyer tax credit.

Oct. 7, 2009 -- In the Sept. 18, 2009, Dr. Don column "Hardship rule can tame 401(k) tax," it was incorrectly stated that account holders who qualify for a hardship distribution are not subject to a 10 percent penalty tax.

Sept. 25 2009 -- The article "7 steps to a 2010 Roth IRA conversion" incorrectly identified Gilman Ciocia Chairman Jim Ciocia as a certified public accountant. He does not hold a CPA designation. The story was originally posted on Sept. 1, 2009.

Sept. 4, 2009 -- The article "Should
you work in retirement?" stated incorrectly that individuals
earning more than $25,000 ($32,000 for married couples filing jointly),
could lose up to 85 percent of their Social Security benefits to income
taxes. In fact, up to 85 percent of their Social Security benefits would
be subject to tax.

Aug. 21, 2009 -- The article "Campus
health insurance or family plan?" should have said that James
Boyle, president of College Parents of America, points to low ceilings
for catastrophic coverage, high deductibles, short coverage windows (i.e.,
only during the school year) and the lack of portability when the student
moves to another school or into the work force when discussing the pros
and cons of college health insurance policies. It has been corrected.

July 16, 2009 -- The following quote was misattributed in a story about the use of social media by small businesses: "Think of social media as a cocktail party. You don't go into the cocktail party and go into the middle room and scream at the top of your lungs and say, 'Buy my products.' ... What works is you have some meaningful conversation first. And that's just how social media works." The comment was made by David Meerman Scott, author of "The New Rules of Marketing and PR" and "World Wide Rave."

June 30 , 2009 -- The article "7 ways to avoid tapping retirement cash" should have said that reverse mortgages are available to homeowners older than 62 who fully own their homes or have a small mortgage.
In addition, income from an unqualified 529 plan withdrawal is assessed at the recipient's federal income-tax rate (plus a 10 percent penalty), whether that recipient is the parent or the child.

June 10, 2009 -- In the story "When not to use a 529 plan," it was incorrectly stated that taxes are deferred on a child's custodial account until withdrawal, and that unqualified 529 plan withdrawals are taxed at the child's rate. In fact, taxes are not deferred on a child's custodial account. They are assessed each year, as follows: If the child is older than 19 and not a full-time student at year-end, the income is taxed at the child's's rate. Otherwise, through age 23 the first $950 of income is tax-free, the next $950 is at the child's rate, and any income above that is at the parent's rate.
In addition, income from an unqualified 529 plan withdrawal is assessed at the recipient's federal income-tax rate (plus a 10 percent penalty), whether that recipient is the parent or the child.

March 31, 2009 -- In Dr. Don column "Choose retirement plan that matches you," it was incorrectly stated that income limits on Roth IRA contributions will be eliminated in 2010. In fact, limits on Roth IRA contributions will remain in effect. It is income limits on conversions (from traditional IRAs to Roth IRAs) that will disappear.

March 12, 2009 -- In the story "Are you eligible for mortgage help," it was incorrectly stated that the federal government's Home Affordable Refinance program requires eligible homeowners to demonstrate financial hardship. The program does not have this requirement.

March 12, 2009 --
The tax tip discussing the first-time homebuyer credit incorrectly stated that unmarried individuals who purchase a "first" home must each qualify in order to claim any of the credit. In the case of unmarried purchasers, eligibility is determined separately and the credit can be allocated between each eligible homeowner.

Nov. 21, 2008 -- In the story "4 steps to boost car trade-in value," ZAG was incorrectly identified as an "automotive research company." It should have been identified as an "auto shopping, research and pricing technology platform to affinity buying groups."

Aug. 11, 2008 -- Bankrate's article on asset
allocation presented an oversimplification of the results of a famous
study by Brinson, Hood and Beebower. The article said the study concluded
that asset allocation accounts for more than 90 percent of a portfolio's
return. In fact, asset allocation accounts for more than 90 percent of
the variance of a portfolio's return.

May 14, 2008 -- In Kay Bell's story on deducting private mortgage insurance, the phase-out thresholds were incorrect. The deduction is limited for homeowners with adjusted gross income of $100,000 (single or married filing jointly) or $50,000 for homeowners who are married and file separate returns. The article was originally published March 7, 2008.

April 24, 2008 -- In an interactive story titled, "What can you buy for $400,000?" we mistakenly implied that Bangor, Maine, is a coastal city. The article was originally published April 14, 2008.

March 19, 2008 -- In the Bankrate story "Solo home sellers find FSBO help online," Phil Gons was touted as an FSBO success story after he found a buyer for his condominium in Greenville, S.C. However, the sale fell through when the buyer could not obtain financing. Gons is now using a Realtor to sell his home.

Feb. 8, 2008 -- The story "6 steps to better, cheaper car insurance" mistakenly implied that property damage coverage applies to the policy holder's vehicle. In fact, property damage coverage insures damage that a policy holder causes to another person's vehicle. The story was originally published Nov. 30, 2007.

Jan. 31, 2008 -- A story on Health
insurance for the over-50 crowd incorrectly listed New Hampshire among
the states that allow residents age 55 and older to continue COBRA coverage
until they are eligible for Medicare. In fact, in New Hampshire, this
applies only to the separated, divorced or surviving spouse of the policy
holder. The story was originally published Jan. 22, 2008.

Nov. 15, 2007 -- A Dr.
Don column incorrectly stated that a husband and wife who each have
$100,000 as insured deposits in individual accounts are not eligible to
have an additional $100,000 each insured in a joint account. In fact,
joint accounts are a separate type of account ownership and as such have
separate insurance limits. Coverage limits are up to a total of $400,000
in insured deposits for the two types of accounts. The column was originally
published Nov. 8, 2007.

Nov. 8, 2007 -- A Real Estate Adviser column, "Home auction best left to pro" incorrectly stated that National Association of Realtors estimates that by 2010, one-third of all U.S. properties sold will sell by auction. The statistic did not come from the NAR. The column was published Nov. 4, 2007.

Aug. 7, 2007 -- A story
about emergency savings strategies incorrectly stated that a $200 investment
earning 10 percent would grow to $835 after five years. In fact, it would
grow to that amount after 15 years.

May 22, 2007 -- An interview with the Frugal
$ense winner incorrectly stated that plastics discarded as municipal
solid waste in 2003 accounted for 26.7 tons. The total weight of plastic
refuse in 2003 was 26.7 million tons.

April 23, 2007 -- We incorrectly identified Steve
Brobeck in a story on
retirement planning, published April 23, 2007. Mr. Brobeck is the executive
director of the Consumer Federation of America.

April 10, 2007 -- A column on
retirement as originally published in September 2006 listed incorrect
dollar amounts on the table.

April 6, 2007 -- A tax column on the
Pension Protection Act originally published on Oct. 6, 2006 inaccurately
stated that IRA beneficiaries could defer withdrawing inherited IRA funds
until age 70 1/2. In fact, that is not true.

March 21, 2007 -- A story on medical
tourism inaccurately illustrated the maps of Thailand and Singapore.
The maps shown in the illustration have been corrected.

March 8, 2007 -- A Dr. Don column published March 5 incorrectly described Roth IRA contributions. They are made with after-tax dollars, not pretax dollars as the column originally stated.

Jan. 31, 2007 -- A column
on how the young can get rich contained an inaccurate calculation pertaining
to the example of Shirley, who beginning at age 25 invested $4,000 a year
in a Roth IRA for 10 years and then stopped making further investments.
At 9 percent, her nest egg would have grown to $806,303, not $1.3 million
as the original article stated.

Jan. 24, 2007 -- A column
on long-term care insurance, originally published Jan. 17, stated that
beginning in 2010, consumers can take money out of an annuity tax free
if they use the cash to purchase a long-term care policy. In fact, the
provisions of the new law will allow consumers to have the cost of long-term
care coverage subtracted directly from the cash value of a hybrid annuity-LTC
product without having the payment be taxed as a distribution (however,
the long-term care costs expended will reduce the annuity's cost basis).
Hybrid products eligible for these rules do not yet exist. For more details,
see the subsequent
column published Jan. 25.

Dec. 28, 2006 -- An
interview published Dec. 12 with TV chef Mario Batali incorrectly referred to the James Beard
Foundation as the James Beard Society.

Nov. 27, 2006 -- A story titled "Housing
design trends of the past and future," originally published Nov. 23,
2006, erroneously identified Bob McLemore as the founder and president
of House Raisers Inc. The name of the firm is HouseRaising Inc.

Nov. 8, 2006 -- A story titled "Homes
for multiple generations," originally published Sept. 14, 2006, stated
that, "In 2000, the U.S. Census Bureau counted 3.9 million American
households consisting of three or more generations living together, a
jump of about 60 percent over the bureau's 1990 findings." In fact,
the bureau counted 4.2 million households in 2000, which represents an
increase of 40 percent over the 1990 findings.

Oct. 25, 2006 -- Our story about the
most popular Halloween costumes of the season, first published Oct.
14, misidentified the superspeedy The Flash and Boy Wonder superhero Robin
as Marvel comics characters. In fact, they are DC Comics superheroes.
We regret this error; it is against Bankrate's policy, and just plain
unwise, to cause offense to superhumans and superheroes.

Oct. 24, 2006 -- A story titled "10
alternative ways to cut college costs" has been clarified to indicate
that the Pell grant is free money for eligible undergraduate students.
As originally posted Oct. 10, it could have been construed otherwise.

Oct. 10, 2006 -- The compounding power of interest, though mighty, was vastly overstated in a story first published Oct. 1. Corrected figures have been inserted into the story.

Oct. 5, 2006 -- In the event of the death of a member
of the military, the surviving spouse receives a one-time payment of $255.
In a story
published Sept. 26, 2006, Bankrate incorrectly reported the amount. In addition, other benefits are available
depending on children and other factors.

Sept. 27, 2006 -- Bankrate's state tax information
on Massachusetts
incorrectly indicated that the state levies a 12 percent tax on interest
and dividends. In fact, interest and dividends are taxed at 5.3 percent
in Massachusetts.

Sept. 22, 2006 -- A story about credit
card myths erroneously oversimplified the question of who is able
to look at your credit report without your permission. Access to your
credit report is based, in part, on context -- whether it is an inquiry
for medical, employment or credit purposes, for example. In addition,
what's commonly called a "credit report" has more than one part,
and while your name and address can be easily obtained for marketing offers,
other information is more closely guarded and won't be released without
permission. Nationwide, the federal Fair Credit Reporting Act sets the
rules for who can view the reports under what circumstances, but it only
sets a base line. States may, and some do, set higher standards. The story
was first published in another form in 2003 and appeared in its present
form July 1, 2006.

Sept. 6, 2006 -- A story
headlined "Assisted living at your doorstep" as originally published
on Aug. 30 erroneously stated that the average monthly cost, in 2005,
of a private room in an assisted-living facility was $34,860; average
cost for private quarters in a nursing home was more than double that
at $74,095. In fact those are annual, not monthly, costs.

Aug. 23, 2006 -- A story
headlined "Boomers retiring not so rich" as originally published
on Aug. 7 contained a misspelling of a person's name. It said Brent Meiser
is a certified financial planner and director of collaborative programs
for the National Endowment for Financial Education. His correct name is
Brent Neiser. Bankrate regrets the error.

Aug. 21, 2006 -- A story
headlined "Housing futures to allay bubble fears" as originally
published on Aug. 17 contained one sentence with two mistakes. It said
the Chicago Board Options Exchange is a subsidiary of the Chicago Board
of Trade; it is not. It said the CBOE has announced plans to introduce
its own electronic housing futures exchange soon; it has not. The CBOE
has announced plans to introduce its own electronic housing futures contracts
soon.

June 14, 2006 -- An article
that was first published on June 14, 2001, incorrectly stated that origination
fees are not tax deductible. In fact, origination fees, commonly expressed
in terms of points, are deductible as long as they are not paid in lieu
of other fees, such as attorney or appraisal fees. Unfortunately, this
misinformation was picked up and appeared elsewhere on our site, including
in our Mortgage
Basics. It has since been corrected.

May 29, 2006 -- An article
first published May 22, 2006, incorrectly stated Liquefied Natural Gas
(LNG) is also known as propane. Propane is Liquefied Petroleum Gas (LPG).

May 12, 2006 -- An article first
published in March 2002 and republished
in January 2003 incorrectly described the restrictions on debt collectors.
In fact, under the Fair Debt Collection Practices Act, a debt collector
can lie about his or her identity and use an alias, as long as it is used
consistently and the debt collector can be identified by his or her employer.

May 2, 2006 -- A column
about "Getting a discount on inner peace" referred to a book
as "Everything You Ever Wanted to Know about TM, Including How to
Do It." The actual title is: "Everything You Want to Know about
TM, Including How to Do It." The column was posted on April 19, 2006.

March 7, 2006 -- An article
about homes that cost about $400,000 in cities and towns across the country
incorrectly identified the capital of Delaware. Dover is the second-smallest-state's
capital. The article was first published March 1, 2006.

Feb. 13, 2006 -- An article headlined "Financing
a manufactured home" erroneously said you could not deduct the interest
paid on personal loans taken out to secure a manufactured home. Whether
the loan is called a mortgage or not, the loan interest is generally tax
deductible if it is used to secure a primary residence. The article was
published July 22, 1999.

Jan. 17, 2006 -- A Tax Talk column
on "Using equity from town house to buy new home" incorrectly
stated that the interest on the town house's home equity line of credit
(even if more than $100,000) could be deducted as mortgage interest on
Schedule A. This is only true if the debt is secured by a qualified home,
which is strictly defined as a main or second home. To qualify as a second
home, the owner must use it more than 14 days a year or more than 10 percent
of the number of days during the year that the home is rented at a fair
rental price, whichever is longer. If these conditions aren't met, the
home is considered a rental property rather than a second home, rendering
the interest nondeductible. The column was first published Jan. 6, 2006.

Jan. 5, 2006 -- A column
on strategies for increasing pay erroneously stated that a 3.6 percent
base pay increase, when offset by a 12 percent increase in health-care
costs, would result in a net loss of income. The column was first published
Dec. 21, 2005.

Jan. 4, 2006 -- A story
on increasing credit card minimum payments misspelled the name of the
credit card issuer Capital One. The article was published Jan. 2, 2006.

Dec. 6, 2005 -- A chart detailing the costs of gift cards incorrectly stated that American Express charges a $5.95 fee to replace gift cards after their "valid through" date. Such replacement cards are free. The article was published Nov. 23, 2005.

Nov. 30, 2005 -- The story,
"The cost of caring for your pearly whites," incorrectly stated
that the American Dental Association recommends brushing your teeth for
two minutes at a time. The ADA does not recommend a specific length of
time for brushing. The article was first published Nov. 26, 2005.

Nov. 30, 2005 -- In an article
titled "Boomers push interest in Universal Design homes," we
incorrectly cited the Center for Universal Design as being part of the
University of North Carolina. It is actually part of North Carolina State
University. The error was first published Nov. 24, 2005.

Nov. 30, 2005 -- A story first
published in January 2003 and republished
in a slightly different form in November 2005 misstated the length of
time that negative information could remain on consumers' credit scores.
It stated that creditors could, at their discretion, stretch the ordinary
seven-year limit by re-reporting bad debts twice more, so that bad debt
information could remain on consumers' credit reports a total of 21 years.
The Fair Credit Reporting Act requires credit reporting bureaus to remove
"negative information" (defined as missed payment, late payment,
no payment, charge off, collection) seven years from the initial delinquency
date. No payments, or other activity on the account including selling
the account to a different collection agency changes that original date
or the requirement to remove the negative information seven years from
the date. Even if a person pays the balance of an old closed account (past
the seven year reporting date) it cannot legally be reported to the credit
bureau because the account's initial delinquency date is past the seven
year reporting period. Abusive creditors may try and have such old debts
listed, however, they cannot be listed legally, according to the act.

Nov. 17, 2005
-- A column
contained the statement that that the "typical American household has $20,000
in retirement savings and is on track to replace only 56 percent of its retirement
income (counting pensions and Social Security), down from 59 percent last spring."
It should have said that it was on track to replace 56 percent of its pre-retirement
income. The article was first published Nov. 16, 2005.

Nov.
1, 2005 -- The article,
"When it pays to stay single," contained three misstatements. Regarding
federal benefits for the nursing home scenario, the original story erroneously
referred to "Medicare" payments for nursing home care. While Medicare
does cover some costs for short-term nursing care related to a patient's illness,
long-term custodial care in a nursing home is covered by Medicaid. Secondly, the
article stated, "If you stay unmarried and have no will or trust, all your
assets will go by default to your next of kin, your children. Your partner will
get nothing. Conversely, if you marry and don't have a will or trust, your new
spouse will get it all, leaving your kids without an inheritance." While
that is true in many states, some states follow the Uniform Probate Code, which
calls for splitting the inheritance for people who die intestate. Thirdly, Bankrate
erroneously stated, "There are a lot of widows out there who have their husbands'
pensions. If they remarry, they would lose that pension income." Widows may
not automatically lose their former spouse's pension benefits upon remarriage,
but they had better check with the Pension Plan Administrator to make certain.
The article was first published October 17, 2005.

Oct. 13,
2005 -- An article
incorrectly spelled the name of Ranjit S. Dighe, associate professor of economics
at the State University of New York. The article was first published October 12,
2005.

Sept. 9, 2005 -- An article
listing the most and least expensive four-year liberal arts colleges in the United
States incorrectly stated one of the least expensive was Judson College in Elgin,
Ill. Actually, it was Judson College in Marion, Ala., which ranked among the least
expensive. The article was first published Aug. 15, 2005.

Sept.
2, 2005 -- Two stories on Bankrate -- a
Dr. Don column and a "College
financing basics" -- misstated how Coverdell Education Savings Accounts are
used in calculating financial aid. The federal formula for student aid considers
such accounts the as the assets of the parent, not the student, if the parent
is the owner of the account. The issue was settled by a 2004
clarification from the Department of Education. The Dr. Don column was first
published Sept. 1, 2005; the basics article was first published May 1, 2005.

Aug.
15, 2005 -- An article
on obtaining an insurance-claim history on a home before entering into a contract
to purchase it incorrectly stated that Choicetrust.com is a division of the credit-reporting
company Equifax. ChoiceTrust is the name of a product of the Choice Point Asset
Company which began operations as the Insurance Services Group of Equifax. The
two companies parted ways when Equifax spun off ChoicePoint to its shareholders
in 1997. The article was first published March 15, 2004.

July
14, 2005 -- An article
on stopping payments on checks incorrectly stated that payments on cashier's checks
could be stopped the same way as personal checks. While that is often true, the
rules for cashier's checks are different and can vary between institutions. The
article was first published July 6, 2005.

June 8, 2005
-- In an article
detailing how to receive free annual credit reports, we mistakenly said a consumer
can request reports from all three major credit reporting agencies at once if
they want to compare credit scores. The free reports do not include your credit
score. Scores are available only for a fee. The article was first published May
2, 2005.

May 25, 2005 -- An article
on reverse mortgages incorrectly stated that Congress recently raised the cap
on FHA-insured reverse mortgages from $150,000 to $250,000 after the Department
of Housing and Urban Development warned that originations of the FHA home-equity
conversion mortgages were dangerously close to the cap figure. Actually, these
figures should not be expressed as dollar figures, but rather numbers of mortgages
allowed. Congress raised the cap on FHA-insured reverse mortgages from 150,000
to 250,000. The article was published on May 23, 2005.

May
5, 2005 -- An article
profiling state taxes in Rhode Island incorrectly stated that the Ocean State's
tax rate is 25 percent of the federal taxable income. The tax rate is actually
25 percent of the federal tax liability. The story was originally published in
2000 and has been updated yearly.

March 21, 2005 --
An article
on finding the best in 55-plus housing communities incorrectly referred to such
a development as being in Brownstone, Mich. The community is in Brownstown Township,
Mich. The article was first published March 17, 2005.

Feb.
17, 2005 -- A road test review
of the 2005 Honda Accord Hybrid incorrectly stated the vehicle features rear-wheel
drive, when, in fact, the car has front-wheel drive. The article was first published
Feb. 15, 2005.

Dec. 6, 2004 -- An article
on sound systems available in 2004 model cars incorrectly stated the 2004 Acura
TL had a matrix surround sound system. In fact, the 2004 Acura TL was the first
production automobile to carry the new high-resolution ELS surround system, the
first DVD-audio system in a vehicle to provide six independent and discrete channels
of sound. The article was first published Dec. 19, 2003.

Nov.
15, 2004 -- An article
about housing policy in President Bush's second term misleadingly mixed Kenneth
Wade's statements with the author's conclusions regarding the mortgage interest
tax deduction. Wade, chief executive of Neighborhood Reinvestment Corp., said
that too many low-income families do not take advantage of the deduction. It was
not Wade's conclusion that homeowners who don't take the home interest deduction
would not miss its elimination.

Nov. 11, 2004 -- An update
to a story
on the capital gains exclusion for home sales misstated a change in the tax treatment
of like-kind properties that are converted to primary residence status and then
sold. The article was first published Oct. 18, 2004, and the like-kind change
was added Oct. 22, 2004. The capital gains exclusion remains available to sellers
who use a property as a primary residence for two years, not five as first reported,
as long as the like-kind exchange was accomplished at least five years previously.

Sept. 29, 2004 -- A story
about end-of-season car sales incorrectly stated the engine size of the Acura
TL. The car has a V6 engine. The article was first published Sept. 23, 2004.

Sept.
8, 2004 -- A feature article
on Kathy Ireland incorrectly stated that Ireland was on the cover of Sports Illustrated's
swimsuit edition in 1984. It should have said she was on the cover of Sports Illustrated's
swimsuit edition in 1989. The article was first published April 13, 2004.

July
21, 2004 -- An article
on spyware that crooks are using to scam bank customers gave instructions for
tweaking Internet Explorer's Outlook e-mail program to better protect systems
from being scammed. The instructions were for opening e-mails in text only, and
applied only to one version of Outlook. It should have said these instructions
applied only to the most recent versions of Outlook. The article was first published
July 2, 2004.

March 3, 2004 -- An article
on co-ops and condos misstated the tax deduction status of co-ops. Real estate
taxes paid by owners of cooperative housing corporation units are, in fact, deductible
according to Section 216 of the Internal Revenue Code. The article originally
was published Feb. 14.

Feb. 5, 2004 -- An article
on the military's problems with payday lenders should have stated that the interest
charged on a loan taken by Jason Withrow was 30 percent. The article was first
published Feb. 2, 2004.

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